The PM took the podium and dangled possible negative gearing changes, sparking a whiplash-inducing debate
6 months, 1 week ago

The PM took the podium and dangled possible negative gearing changes, sparking a whiplash-inducing debate

ABC  

Welcome back to your weekly federal politics update, where political correspondent Jake Evans gets you up to speed on the happenings from Parliament House. Albanese "valued" Treasury looking at a range of proposals, though negative gearing was not the government's housing policy, and not their focus. And he dusted off an old Property Council report once used as a weapon against Labor in its 2019 campaign, when it first lost on negative gearing, to warn that negative gearing changes could harm housing supply — the government's real housing focus. He has to be, because after breaking his promise not to touch the already legislated Stage 3 income tax cuts — revealed via the awfully familiar tactic of leaked treasury modelling and a soft "that's not our focus" — the government won't fool people twice on its intentions. Also bringing a stoic acceptance to the policy debate, Opposition Leader Peter Dutton appears happy to let Energy Minister Chris Bowen speculate on alternative price tags for nuclear power rather than offer his own.

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History of this topic

48 hours of confusion on negative gearing this week has damaged Labor's brand
6 months ago

48 hours of confusion on negative gearing this week has damaged Labor's brand

ABC  

Whether accidental lab leak or deliberate but decidedly cack-handed kite-flying exercise, the government's handling of its negative gearing push has damaged the Labor brand. Inside the politics surrounding Labor's hypothetical negative gearing reforms Photo shows Anthony Albanese looks slightly cross while giving a press conference. Until Labor clears up whether it will or won't take negative gearing and capital gains …

Treasurer Jim Chalmers concedes he asked Treasury for negative gearing modelling
6 months ago

Treasurer Jim Chalmers concedes he asked Treasury for negative gearing modelling

ABC  

Jim Chalmers has conceded he tasked Treasury officials to look at options to scale back negative gearing, saying it was not "unusual" and again leaving the door open to revisiting the reforms. It came a day after Mr Albanese raised doubts about the merits of reforms to the tax breaks, citing work by the Property Council showing less generous tax …

While Labor decides whether to take negative gearing reforms to the election, questions will continue growing
6 months, 1 week ago

While Labor decides whether to take negative gearing reforms to the election, questions will continue growing

ABC  

A week ago, it was a "not terribly clever" question. Negative gearing and capital gains tax rules have sat in Labor's bottom drawer since the party's bruising 2019 election defeat. In the lead-up to the last election, Labor vowed to keep both the Coalition's Stage 3 tax cuts and "maintain the existing regimes for negative gearing and capital gains tax". …

Anthony Albanese is called out for his OWN $2.2million investment property act - even as he considers major change to negative gearing
6 months, 1 week ago

Anthony Albanese is called out for his OWN $2.2million investment property act - even as he considers major change to negative gearing

Daily Mail  

Anthony Albanese has been blasted by the Coalition for potentially considering axing negative gearing for property investors, even as his own $2.2million investment property goes on the market. Negative gearing policies allow property investors to claim tax deductions when the costs of owning and maintaining the property, such as loan interest and maintenance expenses, exceeds the rental income. Anthony Albanese …

Negative gearing changes 'could tip Australia into recession', warns John Symond
6 years, 3 months ago

Negative gearing changes 'could tip Australia into recession', warns John Symond

ABC  

A number of housing industry insiders have issued a warning about curbing negative gearing, with mortgage company boss "Aussie John" Symond saying "it could tip Australia into recession". Key points: Labor's rule change would not affect people who are currently negatively gearing properties The UBS's chief economist said he was worried about the effect the change would have on the …

Scott Morrison reaffirms Coalition's opposition to changing negative gearing tax concessions
7 years, 11 months ago

Scott Morrison reaffirms Coalition's opposition to changing negative gearing tax concessions

ABC  

No changes to negative gearing and a drive to increase private investment in the supply of housing are the key to making the market more affordable, Treasurer Scott Morrison says. Key points: Australians experiencing rental stress, more homeless Australians "We don't need to spend more provided we spend it better," Treasurer says Negative gearing was a key battle in the …

Labor demands Malcolm Turnbull explain negative gearing comments
7 years, 11 months ago

Labor demands Malcolm Turnbull explain negative gearing comments

ABC  

Federal Labor is demanding Prime Minister Malcolm Turnbull explain comments he made to Parliament last year about negative gearing. Unreleased documents could paint the full picture Using the Freedom of Information Act, the ABC sought Treasury material produced between February 11 and 19 last year about the impact of negative gearing or capital gains tax concessions on housing. Key dates: …

Election 2016: Government maintains negative gearing stance despite Treasury documents
8 years, 9 months ago

Election 2016: Government maintains negative gearing stance despite Treasury documents

ABC  

The Federal Government has argued negative gearing largely benefits average Australians despite being advised otherwise months ago, a document obtained by the ABC reveals. Key points: FOI report shows more than half of negative gearing tax benefits go to top 20 per cent of incomes Bottom 20 per cent of earners getting 5 per cent of benefits Modelling predicts negative …

Regional voters have their say on negative gearing
8 years, 10 months ago

Regional voters have their say on negative gearing

ABC  

Labor's proposed changes to negative gearing have received a mixed response from voters in regional Australia. "Negative gearing for someone who is a worker like myself, is just a play thing for rich people," he said. "We are also going to see radical changes not just for first home buyers but also renters because investors don't have that subsidy they …

Malcolm Turnbull pens blog post take-down of report on negative gearing savings
8 years, 11 months ago

Malcolm Turnbull pens blog post take-down of report on negative gearing savings

ABC  

Prime Minister Malcolm Turnbull has written a take-down of an independent report recommending changes to negative gearing, arguing the document is littered with inaccuracies, unsupported claims and direct contradictions. The Government has ruled out changes, while Labor's election policy is to restrict negative gearing to new homes from July next year, with a projected saving of $32.1 billion over a …

Negative gearing: Tax deduction's removal 'would boost Commonwealth revenue by $5b annually'
8 years, 11 months ago

Negative gearing: Tax deduction's removal 'would boost Commonwealth revenue by $5b annually'

ABC  

The Federal Government could save more than $5 billion per year through changes to negative gearing, according to research released by the Grattan Institute. Key points: Current negative gearing arrangements push up house prices, Grattan Institute says Says new housing investment losses should not be deducted from wage income Says restricting negative gearing to new properties "makes it harder for …

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